Artificial Intelligence is one of the world’s fastest-growing markets, with an estimated annual revenue growth of over 17% year over year in 2021. In 2020, annual revenue was forecast to hit $37.9 billion with a five-year CAGR of 18.4%. The artificial intelligence industry continues to grow, with digital behemoths like Facebook, Inc. Common Stock (FB) and Microsoft Corporation (MSFT) leading the charge in AI investments.
In 2019, Microsoft Corporation (MSFT) invested $1 billion in Tesla Inc (TSLA)’s founder Elon Musk’s OpenAI. The collaboration is a multi-year partnership that aims to produce artificial general intelligence (AGI) that can do duties that AI cannot do on supercomputing technologies.
Not everyone can buy expensive stocks like Tesla Inc (TSLA), Microsoft Corporation’s (MSFT), and Alphabet Inc Class A (GOOGL). If you are looking to gain exposure to the AI market by investing in cheap stocks, check out my watch list from this week.
- Veritone, Inc. (VERI)
- eGain Corporation (EGAN)
- ShotSpotter, Inc. (SSTI)
- Butterfly Network Inc (BFLY)
- Bentley Systems, Incorporated (BSY)
Are any of my Top 5 already on your Watchlist? Comment Below and let me know.
Enjoy your weekend and stay tuned tomorrow morning for our in-depth breakdown of Veritone, Inc